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To: Stcgg who wrote (29029)	10/11/1999 7:45:00 AM
From: Benkea	Read Replies (1) \| Respond to of 99985

Stcgg: "Your CMGI had an operating loss of over $51M.. Seems they like to include their extraordinary gains in the bottom-line.." You have obviously not done any research on CMGI, so I will briefly bring you up to date. CMGI's OPERATING business IS Venture Capital. Venture Capital firms buy young private companies to either sell or IPO. Thus, the $1/2 bil in earnings reported last quarter for just such VC "operations" were NOT extraordinary. They have been going on since CMGI's inception as a VC.

To: Stcgg who wrote (29029)	10/11/1999 8:57:00 AM
From: TimbaBear	Read Replies (1) \| Respond to of 99985

..."BTW, what would happen to CMGI's bottom line once their net investments are sold for their true value?..." same thing that happened to it in what you call ..."extraordinary gain"... the bottom line here will continue to increase very nicely. I can see someone having problems with companies who try to claim that hits to the bottom line are "one time events" and do so quarter after quarter, because that smacks of deception geared at keeping the bottom line artificially inflated....but, to report more taxable net (pun intended) income (by hundreds of millions of dollars in this case) just means that they couldn't write off any more than they did....and that they really did make that much money.